Businesses that have pivoted their business models to respond to the pandemic are fairing best.
60 per cent of UK small and medium-sized businesses are now reporting a positive or neutral trading performance as the result of the pandemic, a rise from just a quarter of businesses one year ago, according to data analysed by Funding Xchange.
The figures, which are compiled by the SME lending marketplace, are from self-reported data from SMEs on the impact of the pandemic on their trading performance. They mark an improvement from the last survey at the end of the first quarter of 2021 when c.50 per cent reported a positive or neutral trading performance.
Despite the ending of the various government support schemes for business coming to an end, the lifting of restrictions in the UK appears to be having a positive impact on firms’ bottom line.
Businesses that have done well during the crisis, Funding Xchange says, however, are found across all sectors of the economy, even in sectors hit hard by the crisis.
One common theme has been the financial strength of the directors that have been leading businesses through the crisis. In particular, the strength of their own personal finances.
"It is clear that there are attractive lending opportunities in the market and unlocking these will require digital capabilities to be able to identify and deploy funding efficiently. The use of real-time data to understand how businesses are performing is becoming even more important in these times.”
You can read the full report here.